India’s first legal tech incubator ‘Prarambh’ has been set up by Cyril Amarchand Mangaldas, the country’s largest and leading full service law firm.At the occasion, Cyril Shroff, Managing Partner, Cyril Amarchand Mangaldas, said, “Our Firm has a proud tradition of innovating in the Indian legal market. We have been first to adopt a number of new technologies in the legal space, such...
India’s first legal tech incubator ‘Prarambh’ has been set up by Cyril Amarchand Mangaldas, the country’s largest and leading full service law firm.
At the occasion, Cyril Shroff, Managing Partner, Cyril Amarchand Mangaldas, said, “Our Firm has a proud tradition of innovating in the Indian legal market. We have been first to adopt a number of new technologies in the legal space, such as artificial intelligence-based machine learning, and we are now the first to support and incubate technology start-ups. Our DNA is to be a pioneer in evolving practices and technologies, we believe that we can support our clients, our lawyers and enhance the services provided through this.”
The incubator will work with young entrepreneurs to come up with new tech-based solutions for the legal industry in areas including:
• access to justicedispute resolution
• transaction efficiencies
• law firm operations
• legal research
• compliance
• contract management
• managing legal talent and
• others.
Initially, Prarambh will be housed at the New Delhi office of Cyril Amarchand Mangaldas, and will be later extended to other locations.
Cyril Shroff said, “The potential is enormous. During our initial exploration, we found that a great deal of legal technology being used in other jurisdictions is not fully suited to the Indian legal market. This means there is both “need gap” and an “adjustment gap” that we are seeking to fill. CAM also believes that there is a deep pool of undiscovered and under-supported legal and technology skills in India that can be fostered to fill this gap. I am extremely confident that Prarambh has all the ingredients to radically transform the legal-tech landscape impacting both transactions and dispute resolution, CAM is setting the ball rolling for the emergence of India as an important player in this legal technology domain.”
Prarambh will be led by Komal Gupta, Head – Artificial Intelligence & Innovation, CAM, under the guidance of Cyril Shroff.
“With the Firm’s lineage, brand, infrastructure, subject matter expertise across domains, empathy, and expert mentorship, Prarambh is the ideal incubation platform. We are confident that it will truly enable start-ups in India to develop world class legal technology solutions,” said Cyril Shroff.
Applications for selection to PRARAMBH will be open from 8th April 2019 to 30th April 2019 (forms will be available on http://www.cyrilshroff.com/innovation-lab/). The list of shortlisted start-ups will be announced on 31st May 2019. The candidates will be invited for interviews and to make a pitch in June 2019, which will be followed by announcement of successful candidates in the 1st week of July 2019. The successful startups will move in to the firm’s premises at a suitable date in the next 4 to 6 weeks.